Dubai Gold And Commodities Exchange Market Pulse For March 29, 2006 - Gold Prices At Their Highest Levels Since February 6, While Silver Is At A New 22-Year Peak!

Precious metals gained further ground today as Gold prices moved up for the fourth consecutive day and Silver prices achieved a new 22-year high. DGCX April 2006 gold futures contract opened at $562/troy oz. and closed at $572.70/troy oz., gaining by $5.30/troy oz. during today’s session and closing at its highest price since February 6.

A total of 1694 gold futures contracts were traded during the day of which DGCX April 2006 gold futures contract recorded a volume of 226 contracts. The open interest in these fell further to 171 with barely a couple of days remaining for the contract to enter the delivery period.

Market interest shifted to DGCX June 2006 expiry contract which recorded a volume of 1468 contracts. It opened at $568.40/troy oz and settled at $577.70/troy oz. after scaling a peak of $579.30/troy oz. The open interest in this series witnessed a big jump of 278 contracts or 97% to close at 564.

DGCX July 2006 silver futures recorded a gain of 18 cents in today’s session. The prices opened at $10.880/troy oz and touched a high of $11.170/troy oz. before closing a shade lower at $11.120/troy oz. A volume of 352 contracts was registered during the day and the open interest moved up marginally to 229.

The crude oil prices gained by 38 cents as May 2006 expiry crude oil futures closed near $66.50/barrel mark. The US dollar lost ground against the Japanese yen and Euro. Gold prices experienced a positive impact from both the developments.